Accounting

Contact Vanessa Leaver Email leaver_v@materchristi.edu.au

Scope of study

VCE Accounting explores the financial recording, reporting, analysis and decisionmaking processes of a sole proprietor small business. Students study both theoretical and practical aspects of accounting. They collect, record, report and analyse financial data, and report, classify, verify and interpret accounting information, using both manual methods and information and communications technology (ICT). Students apply critical thinking skills to a range of business situations to model alternative outcomes and to provide accounting advice to business owners. In business decision-making, financial as well as ethical considerations (incorporating social and environmental aspects) should be taken into account.

Rationale

Accounting involves modelling, forecasting and providing advice to stakeholders through the process of collecting, recording, reporting, analysing and interpreting financial and non-financial data and accounting information. This data and information is communicated to internal and external stakeholders and is used to inform decisionmaking within the business with a view to improving business performance. Accounting plays an integral role in the successful operation and management of businesses. VCE Accounting prepares students for a university or TAFE vocational study pathway to commerce, management and accounting, leading to careers in areas such as financial accounting, management accounting, forensic/ investigative accounting, taxation, environmental accounting, management, and corporate or personal financial planning.

Aims

This study enables students to: develop skills in the use of ICT in an accounting system. develop an understanding of ethical considerations in relation to business decision-making. develop and apply critical thinking skills to a range of business situations.

• acquire knowledge and skills to record financial data and report accounting information in a manner that is appropriate for the needs of the user.

• develop an understanding of the role of accounting in the management and operation of a business..

• develop the capacity to identify, analyse and interpret financial data and accounting information.

• use financial and other information to improve the accounting decision-making within a business.